WEC Energy Group, Inc. (NYSE:WEC) Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC cut its stake in WEC Energy Group, Inc. (NYSE:WEC) by 79.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 5,858 shares of the utilities provider’s stock after selling 22,627 shares during the period. Wealthfront Advisers LLC’s holdings in WEC Energy Group were worth $551,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of WEC. Wellington Management Group LLP increased its holdings in shares of WEC Energy Group by 17,270.5% during the third quarter. Wellington Management Group LLP now owns 4,718,179 shares of the utilities provider’s stock valued at $453,794,000 after purchasing an additional 4,691,017 shares during the period. Raymond James Financial Inc. acquired a new position in shares of WEC Energy Group during the fourth quarter valued at $188,879,000. Charles Schwab Investment Management Inc. increased its holdings in shares of WEC Energy Group by 102.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 3,776,071 shares of the utilities provider’s stock valued at $362,971,000 after purchasing an additional 1,912,223 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of WEC Energy Group by 17.0% during the third quarter. JPMorgan Chase & Co. now owns 4,806,360 shares of the utilities provider’s stock valued at $462,276,000 after purchasing an additional 699,177 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec increased its holdings in shares of WEC Energy Group by 57.7% during the third quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,900,238 shares of the utilities provider’s stock valued at $182,765,000 after purchasing an additional 695,317 shares during the period. 77.20% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

WEC has been the topic of a number of research analyst reports. Wells Fargo & Company raised their price target on WEC Energy Group from $112.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. BMO Capital Markets lifted their target price on WEC Energy Group from $95.00 to $100.00 and gave the stock a “market perform” rating in a report on Wednesday, February 5th. Bank of America raised WEC Energy Group from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $90.00 to $98.00 in a report on Thursday, December 12th. Barclays raised WEC Energy Group from an “underweight” rating to an “equal weight” rating and lifted their target price for the stock from $89.00 to $93.00 in a report on Thursday, January 2nd. Finally, KeyCorp lifted their target price on WEC Energy Group from $108.00 to $109.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $101.88.

WEC Energy Group Trading Up 1.7 %

NYSE:WEC opened at $106.89 on Monday. The company has a quick ratio of 0.43, a current ratio of 0.60 and a debt-to-equity ratio of 1.37. WEC Energy Group, Inc. has a 1-year low of $77.47 and a 1-year high of $110.19. The firm has a market capitalization of $33.76 billion, a price-to-earnings ratio of 22.13, a price-to-earnings-growth ratio of 2.60 and a beta of 0.45. The stock has a fifty day simple moving average of $101.25 and a 200 day simple moving average of $98.06.

WEC Energy Group (NYSE:WEC) last released its quarterly earnings results on Tuesday, February 4th. The utilities provider reported $1.43 earnings per share for the quarter, missing analysts’ consensus estimates of $1.49 by ($0.06). WEC Energy Group had a net margin of 17.75% and a return on equity of 12.39%. The company had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the business earned $1.10 EPS. The company’s revenue for the quarter was up 3.0% compared to the same quarter last year. Sell-side analysts forecast that WEC Energy Group, Inc. will post 5.23 earnings per share for the current year.

Insiders Place Their Bets

In other WEC Energy Group news, Director Gale E. Klappa sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $108.62, for a total transaction of $2,715,500.00. Following the completion of the sale, the director now directly owns 274,955 shares in the company, valued at approximately $29,865,612.10. This trade represents a 8.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Ulice Payne, Jr. sold 1,150 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $104.17, for a total value of $119,795.50. Following the sale, the director now owns 21,951 shares of the company’s stock, valued at $2,286,635.67. The trade was a 4.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.34% of the company’s stock.

WEC Energy Group Company Profile

WEC Energy Group, Inc, through its subsidiaries, provides regulated natural gas and electricity, and renewable and nonregulated renewable energy services in the United States. It operates through Wisconsin, Illinois, Other States, Electric Transmission, and Non-Utility Energy Infrastructure segments.